What is a copayment?

Whether you're dealing with insurance claims, visiting healthcare providers, or picking up prescription medications, copayments are an important factor to consider when choosing a health plan.

Learn more in our blog: https://www.peoplekeep.com/blog/what-...

CHAPTERS:
0:00 - Introduction
0:21 - What is a copayment?
0:37 - When do I have to pay a copay?
0:56 - How do copayments work?
1:11 - Factors affecting copayments
2:03 - What is the average cost of a copayment?
2:25 - Can my HRA reimburse my copayments?
2:45 - Conclusion

According to KFF's 2023 Employee Health Benefits Survey, the average copayment for primary care visits was $26. The average for specialty care appointments was $44.

Health reimbursement arrangements (HRAs) allow employers to reimburse employees tax-free for qualifying medical expenses, including copays.

If you're an employer looking to provide employee benefits through HRAs or stipends, PeopleKeep can help! Our personalized benefits administration platform makes managing your benefits easy.

Learn more here: https://www.peoplekeep.com/

Since starting in 2006 as Zane Benefits, we've helped thousands of organizations offer affordable benefits to their employees.

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